China is preparing to launch a new state-backed investment fund with a $40 billion funding goal for its chip industry.

According to research released on Tuesday by an industry group, there will be a shortage of approximately 67,000 workers in the U.S. semiconductor industry by 2030.

Taiwanese chipmaker TSMC (Taiwan Semiconductor Manufacturing Co Ltd) is anticipated to announce a 27% decrease in net profit for the second quarter of the year.

According to Al Jazeera, President Joe Biden’s administration was urged by the US Semiconductor Industry Association to “avoid adding new restrictions on chip sales to China.”

Anil Agarwal, Chairman of Vedanta Group, is committed to manufacturing semiconductors in India and has lined up partners. He encourages investment in the industry, claiming that India has enormous potential.

JSR Corp’s board of directors will meet on Monday to discuss a potential multibillion-dollar purchase by a government-backed fund, signaling further state participation in efforts to revitalize Japan’s semiconductor industry.

According to a report by The Economic Times (ET), Tata Group is embarking on an ambitious plan to expand its presence in the thriving electronics and semiconductor business. This strategic